Ontario Gives Rebates to First-Time Buyers, Penalizes Wealthy and Leaves out Foreigners
First-time homebuyers’ break on the land transfer tax will double under a new proposal by the Ontario government, but wealthy purchasers will pay the price once new land transfer rules come into effect Jan. 1, 2017. Under the change, Ontario will double the maximum land transfer tax refund for eligible first-time homebuyers to $4,000. It…